With hangs and freezes in Outlook, the first thing to check is always add-ins. Even if nothing has been installed or changed recently, it's still a good idea to try loading Outlook with no add-ins to make sure that's not the cause. Outlook can be launched in safe mode by typing the following in the Search programs and files field in the start menu:

Outlook /safe

Also, are you running in cached or non-cached mode? If it's cached mode, it may be an issue with the local Inbox in your .OST file. Use the following steps to see if you're running in cached mode:

1. Click the Tools menu and select Account Settings.
2. Double-click the Exchange account.
3. Check if "Use Cached Exchange Mode" is checked.

If the box is checked, uncheck it and click Next > Finish. Then try closing and re-opening Outlook and see if you are able to receive email. If you are able to, you will probably need to rebuild your .OST file.

Hope this helps. Let us know the results.

-SW